World Bank Appoints Aliko Dangote to Elite Group

The President and CEO of Dangote Group and owner of Africa’s biggest oil refinery and the world’s biggest single-train facility, Alh. Aliko Dangote, has been appointed to the World Bank’s Private Sector Investment Lab, a global initiative aimed at accelerating private investment and job creation in emerging economies.

In a statement confirming the development, Dangote expressed gratitude, describing the appointment as both an honour and a reflection of his long-standing commitment to economic development through private enterprise.

“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies.

This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies,” Dangote said.

He referenced the successes of the so-called Asian Tigers, economies that experienced rapid growth through strategic investment, as a source of inspiration for advancing similar outcomes in other parts of the world.

The World Bank announced Dangote’s inclusion on Wednesday as part of a broader expansion of the Lab, which enters a new phase focused on scaling up solutions that attract private capital and generate employment in developing countries.

Other newly appointed members include Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chairman of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.

The World Bank Group President, Ajay Banga, noted that the expanded membership underscores the institution’s focus on integrating private-sector leadership into its strategy for global job creation.

“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy.

This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate,” Banga said.

The lab, which was co-chaired in 2023 by Canadian Prime Minister Mark Carney, previously sought to mobilise £1 trillion in sustainable investment, particularly targeting energy transition projects in emerging markets.

The Dangote Group

The Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of the largest on the African continent. With interests spanning cement, fertiliser, salt, sugar, and oil, the Group employs over 30,000 people and is the largest taxpayer in Nigeria—contributing more in taxes than all of Nigeria’s banks combined. It is also the country’s largest employer after the government.

The $20 billion Dangote Petroleum Refinery & Petrochemicals, the Group’s flagship project, stands as the largest single private investment in Africa.

In addition to his business interests, Dangote leads the Aliko Dangote Foundation (ADF), the largest private foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

Amaka E. Nliam